Vef AB
VEF AB (publ) is a venture capital firm specializing in early venture, emerging growth and growth capital investments. The firm primarily invests in modern financial services and fintech sector. The financial services sector includes payments providers, Credit, mobile money and all forms of financial marketplaces. It seeks to invest in Asia/Pacific, Africa/Middle East, European Emerging Market, M… Read more
Vef AB (VEFAB) - Net Assets
Latest net assets as of December 2025: Skr433.82 Million SEK
Based on the latest financial reports, Vef AB (VEFAB) has net assets worth Skr433.82 Million SEK as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr463.69 Million) and total liabilities (Skr29.87 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Skr433.82 Million |
| % of Total Assets | 93.56% |
| Annual Growth Rate | 16.33% |
| 5-Year Change | -43.05% |
| 10-Year Change | 200.58% |
| Growth Volatility | 38.89 |
Vef AB - Net Assets Trend (2015–2025)
This chart illustrates how Vef AB's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Vef AB (2015–2025)
The table below shows the annual net assets of Vef AB from 2015 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr433.82 Million | +22.91% |
| 2024-12-31 | Skr352.96 Million | -20.19% |
| 2023-12-31 | Skr442.23 Million | +15.82% |
| 2022-12-31 | Skr381.83 Million | -49.87% |
| 2021-12-31 | Skr761.73 Million | +96.29% |
| 2020-12-31 | Skr388.07 Million | +55.58% |
| 2019-12-31 | Skr249.44 Million | +23.84% |
| 2018-12-31 | Skr201.42 Million | +1.44% |
| 2017-12-31 | Skr198.56 Million | +37.58% |
| 2016-12-31 | Skr144.33 Million | +51.05% |
| 2015-12-31 | Skr95.55 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Vef AB's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 32305.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Skr341.23 Million | 78.66% |
| Common Stock | Skr1.35 Million | 0.31% |
| Other Components | Skr91.23 Million | 21.03% |
| Total Equity | Skr433.82 Million | 100.00% |
Vef AB Competitors by Market Cap
The table below lists competitors of Vef AB ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Selvita S.A.
WAR:SLV
|
$129.09 Million |
|
Shandong Teamgene Technology Co. Ltd. A
SHG:603151
|
$129.09 Million |
|
Responsive Industries Limited
NSE:RESPONIND
|
$129.11 Million |
|
Zhejiang Yaguang Technology Co. Ltd. A
SHG:603282
|
$129.12 Million |
|
NEX POINT
BK:NEX-R
|
$128.99 Million |
|
SELVITA S.A. SER.B ZY-80
F:787
|
$128.95 Million |
|
Shanghai Lianming Machinery Co Ltd
SHG:603006
|
$128.88 Million |
|
Symphony Limited
NSE:SYMPHONY
|
$128.85 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vef AB's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 352,961,000 to 433,820,000, a change of 80,859,000 (22.9%).
- Net income of 85,445,000 contributed positively to equity growth.
- Share repurchases of 5,204,000 reduced equity.
- New share issuances of 12,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr85.44 Million | +19.7% |
| Share Repurchases | Skr5.20 Million | -1.2% |
| Share Issuances | Skr12.00K | +0.0% |
| Other Changes | Skr606.00K | +0.14% |
| Total Change | Skr- | 22.91% |
Book Value vs Market Value Analysis
This analysis compares Vef AB's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.00x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 4.27x to 5.00x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | Skr0.49 | Skr2.11 | x |
| 2016-12-31 | Skr0.22 | Skr2.11 | x |
| 2017-12-31 | Skr0.30 | Skr2.11 | x |
| 2018-12-31 | Skr0.30 | Skr2.11 | x |
| 2019-12-31 | Skr0.38 | Skr2.11 | x |
| 2020-12-31 | Skr0.47 | Skr2.11 | x |
| 2021-12-31 | Skr0.84 | Skr2.11 | x |
| 2022-12-31 | Skr0.37 | Skr2.11 | x |
| 2023-12-31 | Skr0.42 | Skr2.11 | x |
| 2024-12-31 | Skr0.34 | Skr2.11 | x |
| 2025-12-31 | Skr0.42 | Skr2.11 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vef AB utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 19.70%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21686.55%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.07x
- Recent ROE (19.70%) is above the historical average (4.47%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 1.89% | 138.92% | 0.01x | 1.02x | Skr-7.75 Million |
| 2016 | 33.71% | 95.08% | 0.35x | 1.01x | Skr34.22 Million |
| 2017 | 26.77% | 93.52% | 0.29x | 1.00x | Skr33.30 Million |
| 2018 | 1.71% | 37.39% | 0.05x | 1.01x | Skr-16.69 Million |
| 2019 | 19.46% | 89.95% | 0.22x | 1.01x | Skr23.59 Million |
| 2020 | 20.47% | 19474.02% | 0.00x | 1.00x | Skr40.65 Million |
| 2021 | 36.17% | 0.00% | -0.04x | 1.00x | Skr199.34 Million |
| 2022 | -98.83% | -87554.29% | 0.00x | 1.13x | Skr-415.54 Million |
| 2023 | 13.58% | 80.17% | 0.16x | 1.09x | Skr15.84 Million |
| 2024 | -25.46% | 0.00% | 0.00x | 1.11x | Skr-125.16 Million |
| 2025 | 19.70% | 21686.55% | 0.00x | 1.07x | Skr42.06 Million |
Industry Comparison
This section compares Vef AB's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $2,644,922,300
- Average return on equity (ROE) among peers: 5.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vef AB (VEFAB) | Skr433.82 Million | 1.89% | 0.07x | $129.06 Million |
| Athanase Innovation AB (ATIN) | $907.40 Million | -2.93% | 0.01x | $6.52 Million |
| BMC (BMC) | $46.31 Million | 81.79% | 0.68x | $8.84 Million |
| Bure Equity AB (BURE) | $13.57 Billion | 31.15% | 0.02x | $1.09 Billion |
| Case Group AB (CASE) | $288.95 Million | 5.93% | 0.23x | $16.50 Million |
| Catella AB A (CAT-A) | $932.00 Million | -2.36% | 2.74x | $77.53 Million |
| Catella AB (publ) (CAT-B) | $932.00 Million | -2.36% | 2.74x | $75.92 Million |
| Creades AB (CRED-A) | $9.18 Billion | 6.08% | 0.02x | $335.82 Million |
| Effnetplattformen Holding AB (EFFH) | $16.30 Million | -31.51% | 0.16x | $4.04K |
| First Venture Sweden AB Series B (FIRST-B) | $165.81 Million | -7.93% | 0.02x | $3.11 Million |
| Flat Capital AB Series B (FLAT-B) | $412.76 Million | -20.20% | 0.00x | $61.10 Million |